Gino Rodriguez, Writer
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You will know if Penfed approved you for a loan because you will receive an application decision via email. Penfed may approve you as early as one day after you apply, or within 45 days, depending on the type of loan you apply for. You can check your loan status by logging in to your account online in the meantime.
You should receive the funds 1-2 business days after approval, depending on the type of loan. Just keep in mind that approval for a Penfed loan is never guaranteed.
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